Indian economy to contract by 6.1% in April-June & likely to expand in Dec: Nomura

A Japanese brokerage had said the Indian economy will contract by 6.1% in April-June and most likely expand in Dec quarter only. It is expecting another 0.75% cut in rates by the RBI to push growth in 2020. The economy is expected to grow at 3.2% in Jan-March and contract by 6.1% in June and 0.5% in Sept, before rising by 1.4% in the last quarter of the calendar. It also said more unconventional policy measures will follow.